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  #1  
Old 10-16-2019, 11:56 AM
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LRingeisen LRingeisen is offline
 
Join Date: Mar 2016
Location: Chesterfield, MO
Posts: 109
Default DID YOU KNOW insurance is forever changing?

Insurance changes constantly. We know 2019 has been a tough year for all of us adjusting to the higher premiums and tighter insurance guidelines, but we want to continue to keep you informed of some of the changes we have been made aware of. A couple of things we have noticed lately is that deductibles are starting to reappear. This isn?t to lower rates, but instead to make the insurance companies more comfortable insuring low time pilots, specifically on tailwheel aircraft. We haven?t seen much of this yet, but it has happened. Another thing we?ve noticed is that the RV-8/RV-8A have been getting more difficult to insure. Companies typically want to see pilots with at least 25 hours in the make and model. We?re not saying that you can?t get a quote if you have less hours than that, but we want you to know that it is easier if you do.

We?re not the only one?s trying to help you. Some of our insurance companies want to give you some tips and tricks of how to keep insurance costs down and how to make it easier to get the best policy available. Below is a link form Global Aerospace. With their permission, we wanted to pass this article along to anyone who may not have seen it. There is some good information in it.

Just remember, quotes are only valid for 60-90 days depending on the insurance company, because insurance is forever changing.

https://www.global-aero.com/insuring...surancehurdles
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*This is an informative post to help educate and explain different aspects of the insurance field.

Leah Ringeisen, Katie Escalante & Kim Schuler
Gallagher Aviation
877-475-5860
Arthur J. Gallagher Risk Management Services, Inc.
www.ajg.com/lightaircraft / www.ajg.com
Opinions and advice provided by Arthur J. Gallagher & Co. is not intended to be, and should not be construed to be, legal advice. Please direct any request for legal advice to your attorney.
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  #2  
Old 10-16-2019, 02:22 PM
jssaylor2007 jssaylor2007 is offline
 
Join Date: Aug 2019
Location: Muleshoe, TX
Posts: 91
Default

Just curious, if insurance company wanted 25 hours in the type, could you just fly your airplane around for 25 hours uninsured before applying for a policy?
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  #3  
Old 10-16-2019, 02:49 PM
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LRingeisen LRingeisen is offline
 
Join Date: Mar 2016
Location: Chesterfield, MO
Posts: 109
Default

Quote:
Originally Posted by jssaylor2007 View Post
Just curious, if insurance company wanted 25 hours in the type, could you just fly your airplane around for 25 hours uninsured before applying for a policy?
Yes, you could do that. Of course we don't recommend or suggest doing so, but if you came to a broker with 25 hours in the make and model, you shouldn't be required to have any dual training.
__________________
*This is an informative post to help educate and explain different aspects of the insurance field.

Leah Ringeisen, Katie Escalante & Kim Schuler
Gallagher Aviation
877-475-5860
Arthur J. Gallagher Risk Management Services, Inc.
www.ajg.com/lightaircraft / www.ajg.com
Opinions and advice provided by Arthur J. Gallagher & Co. is not intended to be, and should not be construed to be, legal advice. Please direct any request for legal advice to your attorney.
*paid advertiser
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  #4  
Old 10-16-2019, 03:24 PM
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LRingeisen LRingeisen is offline
 
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Location: Chesterfield, MO
Posts: 109
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Quote:
Originally Posted by RV8JD View Post
I ended up renewing with Global. While perusing the new Policy, I noticed page 2 contained an offer for 1 year of free Savvy Aviation Aircraft Breakdown Assistance.
You are correct. Global offered the Savvy coverage on a trial basis and had so much positive feedback that they decided to continue. For now the additional perk is still included on most of their policies.
__________________
*This is an informative post to help educate and explain different aspects of the insurance field.

Leah Ringeisen, Katie Escalante & Kim Schuler
Gallagher Aviation
877-475-5860
Arthur J. Gallagher Risk Management Services, Inc.
www.ajg.com/lightaircraft / www.ajg.com
Opinions and advice provided by Arthur J. Gallagher & Co. is not intended to be, and should not be construed to be, legal advice. Please direct any request for legal advice to your attorney.
*paid advertiser
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  #5  
Old 10-16-2019, 07:10 PM
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Ironflight Ironflight is offline
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Join Date: Jan 2005
Location: Dayton, NV
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Quote:
Originally Posted by jssaylor2007 View Post
Just curious, if insurance company wanted 25 hours in the type, could you just fly your airplane around for 25 hours uninsured before applying for a policy?
This is essentially the route that we are having to take with the Subsonex. I was fortunate that I earned the rating in the factory jet because I was a journalist, so I had three hours in type when I went to insure my jet - but that didn?t mean diddly to insurance companies with respect to hull coverage. no one would bid. I was able to get liability for a hefty price this first year. When renewal comes around next spring, and I have collected many more hours in type, we?ll see if that makes a difference - I am most curious.

Other builders don?t get to fly the factory jet for their rating training (ironically enough, because Sonex can?t get insurance....), so they?ll have ZERO hours in type to start.

So...sometimes you just have to take a risk and self-insure the hull in some cases.
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Paul F. Dye
Editor at Large - KITPLANES Magazine
RV-8 - N188PD - "Valkyrie"
RV-6 (By Marriage) - N164MS - "Mikey"
RV-3B - N13PL - "Tsamsiyu"
A&P, EAA Tech Counselor/Flight Advisor
Dayton Valley Airpark (A34)
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  #6  
Old 10-16-2019, 07:50 PM
Kyle Boatright Kyle Boatright is offline
 
Join Date: Aug 2005
Location: Atlanta, GA
Posts: 4,676
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Quote:
Originally Posted by Ironflight View Post
This is essentially the route that we are having to take with the Subsonex. I was fortunate that I earned the rating in the factory jet because I was a journalist, so I had three hours in type when I went to insure my jet - but that didn?t mean diddly to insurance companies with respect to hull coverage. no one would bid.
That's kinda frightening with a >$100k investment, especially when you're uninsured during the flyoff phase - probably your highest risk period from a hull loss perspective. Is that common knowledge in the Sonex jet community?
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Marietta, GA
2001 RV-6 N46KB
2019(?) RV-10
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  #7  
Old 10-16-2019, 08:08 PM
painless painless is offline
 
Join Date: Jan 2005
Location: Peshtigo, Wisconsin
Posts: 800
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Personally, I?m more concerned with the liability side of flying without insurance. .
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Jeff Orear
RV6A N782P
Peshtigo, WI
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  #8  
Old 10-16-2019, 08:22 PM
Timberwolf Timberwolf is offline
 
Join Date: Nov 2016
Location: Navarre, FL
Posts: 385
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Quote:
Originally Posted by Kyle Boatright View Post
That's kinda frightening with a >$100k investment, especially when you're uninsured during the flyoff phase - probably your highest risk period from a hull loss perspective. Is that common knowledge in the Sonex jet community?
Not really all that uncommon. I ran into similar situation with my Moose. Only a few would take, and their requirements were unreasonable, ?25 hours with a DPE who has 250 hours in type.? Try insuring a floatplane if you want a good laugh. They might bite if you?re willing to drop $15k a year....
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RV-6 IO-360 Angle valve, G3X touch
Murphy Moose M14P flying
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  #9  
Old 10-16-2019, 08:53 PM
NewbRVator NewbRVator is offline
 
Join Date: Jul 2018
Location: CA
Posts: 280
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If you don?t ?qualify? from an insurance perspective but have the licensure can one find liability only? Otherwise is someone forced to fly ?naked? until they get the hours.
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  #10  
Old 10-16-2019, 10:48 PM
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erikpmort erikpmort is offline
 
Join Date: Oct 2012
Location: logan, utah
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I?m having a hard time believing people are flying their 100k planes uninsured. Would love to hear some more comments
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